Michaels Companies (NASDAQ:MIK) issued an update on its fourth quarter 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.42-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.41. Michaels Companies also updated its FY 2018 guidance to $2.35-2.39 EPS.
A number of research firms have recently commented on MIK. ValuEngine lowered Michaels Companies from a sell rating to a strong sell rating in a research report on Sunday, August 26th. BidaskClub lowered Michaels Companies from a buy rating to a hold rating in a research report on Wednesday, August 29th. Deutsche Bank dropped their price target on Michaels Companies from $21.00 to $19.00 and set a hold rating on the stock in a research report on Friday, August 31st. Wells Fargo & Co reaffirmed a hold rating and set a $19.00 price target (down previously from $20.00) on shares of Michaels Companies in a research report on Thursday, August 30th. Finally, Zacks Investment Research lowered Michaels Companies from a buy rating to a hold rating in a research report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Michaels Companies has a consensus rating of Hold and a consensus target price of $21.67.
Shares of Michaels Companies stock opened at $15.65 on Friday. Michaels Companies has a 52-week low of $14.82 and a 52-week high of $27.87. The company has a market capitalization of $2.80 billion, a P/E ratio of 7.38, a PEG ratio of 0.90 and a beta of 1.04.
About Michaels Companies
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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